This article first appeared in The Edge Malaysia Weekly on May 14, 2018 - May 20, 2018

TUN Dr Mahathir Mohamad woke up late and had a good breakfast the morning after Pakatan Harapan emerged victorious in the May 9 general election. He certainly needs ample sleep and nourishment for energy to deliver the 10 promises to the people in the coming 100 days.

There is a lot of work to be done — tasks that perhaps many Malaysians reckon can only be delivered on a clean slate, free from vested interests.

First, Dr Mahathir needs to convince the world that Malaysia’s economy can still grow strongly and the new government of Malaysia can still function well despite what looks like a triple whammy of narrower government revenue sources, increased government spending on subsidies and reduced government borrowings. (Is it too much to ask for a new budget by the end of the first 100 days on Aug 17?)

By opening bell on Monday, Dr Mahathir would also need to articulate the new government’s view on capital controls, which some foreigners fear.

These messages need to be strong as volatility stemming from investor outflows will hit sentiment while a sovereign rating downgrade of Malaysia would affect the cost of doing business.

For the rakyat, Dr Mahathir’s momentous return as prime minister — 15 years after completing his previous 22-year tenure — is hoped to bring about the necessary changes for all Malaysians to really enjoy the benefits of economic growth. He and the other Pakatan Harapan leaders now have the chance to oversee execution in the final leg of Malaysia’s journey to the high-income developed nation status he envisioned three decades ago.

Dr Mahathir will also need to demonstrate in action that it will not be “his way or the highway” for him or future Malaysian prime ministers and finance ministers.

He and his team will need to convince Malaysia that there will be checks and balances on the executive, which means giving the parliamentary oversight committees and the people the transparency in information they seek. Tenure limits are needed as well.

The freedom of the press and the people’s voice should no longer be curtailed by draconian laws, let alone those passed with a simple parliamentary majority.

The Barisan National coalition, which still has sizeable representation in parliament and the state assemblies, now has the chance to serve the people from the other side of the fence for at least the coming five years.

We detail here some of the key economic-related matters that would affect the people and businesses as we weigh the cost and merits of delivering some of the key promises in Pakatan Harapan’s election manifesto.

1    Abolish the GST and take steps to reduce the cost of living

2    Stabilise the price of petrol and introduce targeted petrol subsidies

3    Abolish unnecessary debts that have been imposed on FELDA settlers

4    Introduce EPF contribution for housewives

5    Equalise the minimum wage nationally and start the processes to increase the minimum wage

6    Postpone the repayment of PTPTN for all graduates whose salaries are below RM4,000 per month and abolish the blacklisting policy

7    Set up Royal Commissions of Inquiry on 1MDB, FELDA, MARA and Tabung Haji, and to reform the governance of these bodies

8    Set up a Special Cabinet Committee to properly enforce the Malaysia Agreement 1963

9    Introduce Skim Peduli Sihat with RM500 worth of funding for the B40 group for basic treatments in registered private clinics

10    Initiate a comprehensive review of all mega projects that have been awarded to foreign countries

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